Sumitomo Mitsui Trust Group Inc. Has $43.65 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 190,322 shares of the medical research company’s stock after acquiring an additional 1,779 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Laboratory Co. of America worth $43,645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the third quarter worth $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America in the 3rd quarter worth $29,000. Fortitude Family Office LLC lifted its position in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co boosted its holdings in Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares during the period. Finally, Concord Wealth Partners grew its position in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,383 shares of company stock worth $4,408,373 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 0.5 %

LH stock opened at $245.14 on Tuesday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $236.67 and its 200-day moving average is $229.99. The firm has a market cap of $20.50 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.84 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Equities analysts anticipate that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LH shares. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Barclays reduced their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Bank of America boosted their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $265.31.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.